Tourism figures rise cautiously, but wanderlust is here to stay
IATA estimates that travel (measured in revenue passenger kilometers or RPKs) will recover to 43 per cent of 2019 levels over the year.
IATA estimates that travel (measured in revenue passenger kilometers or RPKs) will recover to 43 per cent of 2019 levels over the year. While that is a 26 per cent improvement on 2020, it is far from a recovery. Domestic markets will improve faster than international travel.
IATA estimates that domestic markets could recover to 96 per cent of pre-crisis (2019) levels in the second half of 2021. That would be a 48 per cent improvement on 2020 performance. Industry revenues are expected to total $458 billion. That's just 55 per cent of the $838 billion generated in 2019 but represents 23 per cent growth on the $372 billion generated in 2020.
The coronavirus (Covid-19) pandemic hit the tourism industry hard in 2020, as governments implemented travel bans and stay-at-home measures in order to contain the spread of the virus. In 2020 the market size of the global tourism sector reached $1.09 trillion. This industry's market size was forecast to rise to $1.3 trillion in 2021.
Indians love long weekends, the British prefer short weekend breaks, Americans explore local destinations, Europeans plan their travel closer to the date: OYO's World Tourism Day Report 2021. As the population across the world continues to get jabbed, travellers have begun boarding flights and checking into hotels among a lot more movement. Commemorating World Tourism Day 2021, OYO has released interesting insights on global consumer travel and booking trends in its Unlocking Travel Report 2021.
Strong signs of wanderlust around the world
According to OYO's data on travel preferences across different geographies, in the UK, there's a high preference for travel over short weekend breaks, followed by school holidays and business trips. Americans, on the other hand, choose to explore local destinations and new experiences, followed by solo travel. It is also observed that in the USA, hygiene and cleanliness are a top priority for travellers.
When it comes to Southeast Asia, with lockdowns partly relaxing in Indonesia, there's a jump in SME and essential travel across business cities such as Jakarta, Bandung, among others. In Malaysia, OYO has observed a surge in searches for local tourist destinations such as Kuala Lumpur and Selangor. As the lockdown continues in Malaysia, the rise in searches indicates people's aspiration to travel once the country opens up for tourists.
In India, Goa, followed by Jaipur and Manali are set to become India's top leisure destinations for the upcoming holiday season. The booking data shows a clear inclination towards hill stations, followed by heritage cities and beach destinations. Goa is the most popular travel hotspot in the west, whereas, the Himalayan hill station of Manali is a favourite in North India. Across South India, the royal city of Mysore tops charts as Darjeeling emerged as North East India's favourite destination for leisure travellers.